The Government is on the cusp of successfully passing a bill to boost compulsory superannuation to 12 per cent, in a Parliamentary vote that will likely take place in the first quarter of 2012, says John Brogden, chief executive of the Financial Services Council.
Andrew Wilkie, a Tasmanian Independent member of parliament, Adam Bandt, a Greens party member from Melbourne, and Rob Oakeshott, a New South Wales independent, support increasing compulsory superannuation contributions from 9 per cent, says Brogden.
He says the Government needs to convince just one more member of Parliament to get the measure passed by March 31.
“Compulsory super is in the blood of the Labor Party,” says Brogden. “It is odds-on they will get there.”